Since 2002 Housing Associations and local Councils have set their rents using a formula set by the Government. The formula is based on January 1999 figures and takes into account:
- the value of your property
- how many bedrooms you have
- national average earning
- county average earnings.
The formula gives a ‘target rent’ for each property that Housing Associations and local Councils must reach by 2012. This means that by 2012 you'll pay the same rent as someone living in the same area in a similar property which is owned by another Housing Association or local Council. See how our rents are comparing at the bottom of this page.
We are moving your rent a little each year until it's the same as the target rent for your home. When it's time to review your rent, we can only put it up by a maximum of the rate of inflation + 0.5%, plus or minus £2 a week.
Once your rent has hit the target rent for your home, any increase in your rent will be no more than the rate of inflation plus 0.5%.
If the Government makes any more changes to the way rent is set, we'll let you know in KnightLife.
If you live in a GWAG or GWA home, rent restructuring doesn’t apply to your home’s rent. Your rent is currently calculated using rent points.
How our rents compare with other landlords
Every year, we put information on the website about how your rent compares to the rent charged by other landlords in your area. To view or download 'How does your rent compare?' click the image on the left.